This is chapter 5 from H. A. Manandian's important book (Erevan, 1946) The Trade and Cities of Armenia in Relation to Ancient World Trade, English translation by N. G. Garsoian (Lisbon, 1965). "The Commercial Importance of Armenia in the Period of the Arab Caliphate and the Bagratid Kingdom" includes: The Stagnation of Trade and the Decline of Armenian Cities in the First Centuries of Arab Dominion; The Renaissance of Commerce and the Bright Era of Armenian Towns in the IXth, Xth and First Half of the XIth Centuries; The Armenian Cities in the Bagratid Period; Documentary Evidence on the Economy and Industry of Bagratid Armenia; Life within the Cities of the Bagratid Period; and The Main Trade routes of the Bagratid Period. Includes maps and full bibliography. Zipped HTML and graphics files prepared by Robert Bedrosian.